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Smartphones are quickly beginning to look like rotaries. The wave of the future—and the direction of flowing research money—seems to be looking into more wearable tech. You’ve got your Galaxy Gear by Samsung and the Pebble smartwatch which is both iOS and Android compatible. And let’s not forget, you’ve got your Google Glass.

Now we’ve hit a new high in our search for wearable tech. Using Indiegogo, a crowdfunding service, researchers have surpassed their fund-raising goal of $40,000, raising $187,000 to look into developing a smart ring called—get this—Smarty Ring, that will alert you to text messages, e-mails, Facebook invites, and oncoming calls.

"Smarty Ring is a high-tech as well as high-fashion wearable jewelry for [people] who love to wear rings and won't wear a watch," Karthik Kumar, Smarty Ring's head of marketing, told ABC News.

It’s debatable whether or not a smartring would make a splash on the market. Smartwatches, thus far, have been something of a disappointment; CNET noted that the Galaxy Gear’s “inability to perform truly ‘smart’ functions means it falls far short of expectations.” The Smarty Ring is supposed to be even more limited in its function, having no text display.

The Smarty Ring is slated to cost around $275, higher than other wearable tech items such as the Pebble, which retails for $150, but about as much as the $300 Galaxy Gear.